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Congress: GOP backs away?

"Key Senate Republicans on Tuesday began to back away from their sharp criticism of proposed new financial regulations and expressed optimism that a bipartisan deal on a bill that would drastically change the way Wall Street operates could emerge in the coming days," the Washington Post says.

Roll Call: "Democratic and Republican Senators are bracing for a legislative battle royal over financial regulatory reform, but both sides are clearly hoping a bipartisan agreement breaks before they have to draw their rhetorical swords."

The New York Times: "Hoping to seize on populist fury on a day when Goldman Sachs reported blockbuster earnings, Senate Democrats on Tuesday sought to portray Republicans as siding with wealthy Wall Street interests in opposing tougher financial regulations. In news conferences, floor speeches and interviews, the Democrats said they would force Republicans to block the bill. Republicans, however, countered that bipartisan negotiations to avoid such a fight had resumed in earnest. But some leading Republicans, including Senator Richard C. Shelby of Alabama, the senior member of the banking committee, said it could take weeks to reach a deal."

The House dropped DC voting rights until at least next Congress. "The bill has been plagued by opposition in Congress and from the D.C. Council ever since an amendment was attached to it that would alter the District's gun laws."

"A disconnect is growing among Hispanic lawmakers over the strategy for moving comprehensive immigration reform, with some pressuring President Barack Obama to push legislation this summer and others acknowledging the issue likely will have to wait until after the midterm elections," Roll Call reports.